Advent Leads $150M Series C in Tekion at $1B+ Valuation, Funding Disruption in Automotive Retail
10/21/20, 12:05 PM
Location
pleasantonMoney raised
$150 million
Industry
software
Round Type
series c
Tekion, a cloud technology company and provider of SaaS retail operating platform (aka DMS), Automotive Retail Cloud, today announced its Series C financing round of $150 million at over a $1 billion valuation. The funding round was led by Advent International (“Advent”), one of the largest and most experienced global private equity investors, with participation from Index Ventures, Exor (the holding company of Fiat Chrysler Automobiles and Ferrari), Airbus Ventures and FM Capital (a fund that includes a large number of top 100 dealers in the country as its limited partners). Tekion’s other key investors from the Automotive industry include General Motors, BMW iVentures and Nissan-Renault-Mitsubishi Alliance Ventures.
Company Info
Location
pleasanton, california, united states
Additional Info
Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises, and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers, and consumers. With its highly configurable integration and greater customer engagement capabilities, Tekion is enabling the best automotive retail experiences ever.